“And the reason Andrew McAlpine could afford to be “generous” is that, for at least 20 years, he and his firms have been involved with penny stock fraud in which they swindled the elderly and other vulnerable victims out of their savings.”
David Marchant, Offshore Alert
(CMR) Cayman Marl Road was the first media house in the world to break the story that long term Cayman resident and Canadian national Andrew McAlpine was arrested for alleged penny stock pump and dump fraud on September 18 in Orlando, Florida. Since then, many have weighed in on the debate of his guilt or innocence including the founder of Offshore Alert, David Marchant.
Marchant commented on Friday’s statement issued by McAlpine’s wife exclusively to CMR that among other things “God works in mysterious ways” and that she had benefited from the generosity of friends who stockpiled her with over three weeks worth of food.
However, Marchant was not impressed with her attempts to inject God into the matter as she asked the rhetorical question “who knew that God supported penny stock fraudsters?” He went on to share that as someone who has bee following McAlpine for over 20 years these allegations were not surprising and that in fact, he had settled previous similar allegations with the US Securities and Exchange Commission (SEC).
“Are you praying that Mrs. McAlpine finds it within herself to stop spending the money her husband has swindled from them on herself and turns it over?”
Holding nothing back with Carolyn Third-McAlpine he noted:
“You had no excuse for not knowing about it because it has been widely reported in OffshoreAlert, starting in the late 1990s. As the good Christian you claim/pretend to be, I presume that you’ll now be turning over your assets to victims. Or are the only parts of the Bible you believe in are those dealing with forgiveness of sins? Contrary to the delusional opinion you seem to have, most of us don’t swindle vulnerable people for a living.”
One of McAlpine’s friends, Thomas West, stepped in to defend him claiming that Marchant had elevated himself to “to Criminal Investigator, Prosecutor, Judge, Jury and Executioner”. However, Marchant stuck with the evidence and made his position painstakingly clear by revealing that there was an email sent on June 26, 2013 from McAlpine which stated:
“I think what I suggested about getting an SEC insider on the payroll is prudent as we want to stay ahead of the curve!”
The email was part of the evidence included in a previous SEC case which McAlpine eventually settled which involved the now-defunct Caledonian Bank (Cayman). Whilst West urged others to maintain a semblance of impartiality until a conviction Marchant reminded everyone that the federal government has a 97% successful conviction rate. He does throw Cayman under the bus by stating that “ In Cayman, by the way, obviously guilty financial criminals are seldom criminally investigated, much less charged and/or found guilty.”
Whilst most people found the generosity of the McAlpine family to be an overriding consideration for them being nice people worthy of forgiveness yet again, Marchant reminds everyone that generosity was the product of ill-gotten gains to the tune of at least $6 million this time around and those victims have paid heavily.
OffshoreAlert was launched in 1997 and is known as the premier publisher of investigative news pieces about offshore finance around the world. He is also knowns for his investigative skills and hosts an annual conference which he is often a keynote speaker at.